Offering an exceptional company retirement plan has numerous benefits to the employees and companies that offer them. However, all too often company retirement plans are underutilized and not properly maintained.
Well-managed company retirement plans greatly improve employee retention, attract new hires, and improve a company’s culture. Establishing a company retirement plan help improve the lives of the company employees. The tax reduction and wealth accumulation advantages that a company retirement plan provides can significantly enhance the financial future of their participants and their families.
A common issue with company retirement plans is that the companies offering them do not adhere to the fiduciary expectations put in place by the Department of Labor and Internal Revenue Service. Does the company have regular written reports that analyze fees, plan design, investment performance, and completion of fiduciary duties? If not, there may very well may be deficiencies in the company plan fiduciary process which could potentially leave the company and its fiduciaries liable. Part of our responsibility is to help reduce the liability of the plan fiduciaries and protect them from potential legal implications.
As a company retirement plan advisor our goal is to help create a high functioning company retirement plan that provides exceptional service to its participants. We give the participants the service and guidance they deserve and help keep them on track towards accomplishing their retirement goals.